How to make 5 billion predictions in 2 days (EN)

12:15 – 12:45 Uhr | Festival Stage | Artificial Intelligence

MARKANT is the largest trade and industry collaboration for European food retail, working with over 14,000 industry partners and approximately 150 trade partners. Together with ONE LOGIC, MARKANT is developing a centralized forecasting platform for their trade and industry partners. The goals is to obtain precise sales forecasts up to 26 weeks in advance. With more than 200 article-location-combinations, this means that 5.5 billion forecasts have to be calculated every week within just 2 days’ time. Additionally, the statistical models must be able to take into account events like promotions and external effects like holidays. The results are optimized production, logistics, and sales processes, leading to significant savings and a reduction of environmental footprint.